This Insurance Glossary of Terms is produced and maintained by the National Alliance Research Academy. 
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A self-directed, tax-deferred retirement investment account established by employed workers who earn a salary, wage, or self-employment income. An individual may establish an IRA account with a bank, mutual fund, insurer, or another trustee. Deposits for traditional IRAs are usually tax deductible and the investment earnings in the account are not taxable until the investor withdraws the funds. Different rules apply depending on the type of IRA account.

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